ForecastCity

💡SILVER (XAGUSD) - Weekly Technical Analysis Update

FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
A trough is formed in daily chart at 23.55 on 12/11/2020, so more gains maximum to Major Resistance (26.00) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 65.

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Comments

great analysis
+2 Reply
ForecastCity kavinluis
@kavinluis, Thanks
Reply
Pls share gold too. I like this one 👏
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, We're glad you like it. It's updated on the website.
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RIGHT! It's a unique forecast. Cheers 👍
+1 Reply
@Kamryn, Cheers 👍
Reply
❄️ I like it ❄️
+1 Reply
ForecastCity Kristalyn
@Kristalyn, We're glad you like it.
Reply
go to grown
+1 Reply
ForecastCity Yuriy_Bishko
@Yuriy_Bishko, Thanks for your comment.
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